Ennis (NYSE:EBF) Downgraded to Buy at StockNews.com

StockNews.com downgraded shares of Ennis (NYSE:EBF) from a strong-buy rating to a buy rating in a research note released on Wednesday morning.

Ennis Trading Up 2.4 %

EBF stock opened at $22.19 on Wednesday. The firm has a market cap of $576.50 million, a P/E ratio of 13.87 and a beta of 0.43. Ennis has a 12-month low of $18.88 and a 12-month high of $23.17. The stock’s 50 day simple moving average is $20.43 and its 200 day simple moving average is $20.66.

Ennis (NYSE:EBF) last posted its quarterly earnings results on Monday, June 17th. The industrial products company reported $0.41 earnings per share (EPS) for the quarter. The business had revenue of $103.11 million for the quarter. Ennis had a return on equity of 12.01% and a net margin of 10.11%.

Ennis Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, August 5th. Shareholders of record on Friday, July 5th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 4.51%. The ex-dividend date is Friday, July 5th. Ennis’s dividend payout ratio is presently 62.50%.

Institutional Investors Weigh In On Ennis

Large investors have recently added to or reduced their stakes in the stock. Lazard Asset Management LLC increased its position in Ennis by 104.6% in the first quarter. Lazard Asset Management LLC now owns 5,407 shares of the industrial products company’s stock worth $110,000 after buying an additional 2,764 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Ennis by 101.7% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,343 shares of the industrial products company’s stock worth $139,000 after buying an additional 3,199 shares during the period. EMC Capital Management increased its position in Ennis by 10.9% in the first quarter. EMC Capital Management now owns 9,848 shares of the industrial products company’s stock worth $202,000 after buying an additional 971 shares during the period. WINTON GROUP Ltd acquired a new stake in Ennis in the third quarter worth $204,000. Finally, Jump Financial LLC acquired a new stake in Ennis in the fourth quarter worth $214,000. 74.33% of the stock is owned by institutional investors and hedge funds.

About Ennis

Ennis, Inc manufactures and sells business forms and other business products in the United States. The company offers snap sets, continuous forms, laser cut sheets, tags, labels, envelopes, integrated products, jumbo rolls, and pressure sensitive products under the Ennis, Royal Business Forms, Block Graphics, 360º Custom Labels, ColorWorx, Enfusion, Uncompromised Check Solutions, VersaSeal, Ad Concepts, FormSource Limited, Star Award Ribbon Company, Witt Printing, B&D Litho, Genforms, PrintGraphics, Calibrated Forms, PrintXcel, Printegra, Forms Manufacturers, Mutual Graphics, TRI-C Business Forms, Major Business Systems, Independent Printing, Hoosier Data Forms, Hayes Graphics, Wright Business Graphics, Wright 360, Integrated Print & Graphics, the Flesh Company, Impressions Direct, and AmeriPrint brands.